We use cookies on our website. If you continue to browse our website without taking any action, we will assume that you are happy to receive all cookies from our website.Read MoreDismiss

Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

FEAnalytics.com

FEInvest.net

FETransmission.com

Investegate.co.uk

Trustnet.hk

Trustnetoffshore.com

Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

to present content effectively;

to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;

to carry out our obligations arising from any contracts between you and us;

to enable you to participate in interactive features of our service, when you choose to do so;

to notify you about changes to our service;

to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

VPhase PLC (IAF)

Wednesday 06 October, 2010

VPhase PLC

Placing to raise £2m and Noti

RNS Number : 9158T

VPhase PLC

06 October 2010

﻿

Press release

6 October 2010

VPhase plc

("VPhase" or the "Company" or the "Group")

Placing to raise £2 million and Notice of General Meeting

VPhase plc, (AIM:VPHA), a leading developer of energy saving products for residential and commercial properties, is pleased to announce that is has conditionally placed 100,000,000 new ordinary shares of 0.25p each ("Ordinary Shares") at a price of 2.0p per share to raise gross proceeds of £2.0 million (the "Placing"), which was arranged by Ambrian Partners Limited ("Ambrian") with institutional investors. The Placing is conditional upon amongst other things the passing of a special resolution by the members of the Company at a General Meeting of the Company called for 9.00am on Monday 25 October 2010 at Castlefield House, Liverpool Road, Castlefield, Manchester M3 4SB.

Reasons for the Placing

The funds will be used to accelerate the Company's commercial development within the UK and other geographical territories, and for general working capital purposes as appropriate. Such commercial activities will include a campaign to increase consumer awareness, including TV advertising, increased promotion to utilities, social housing groups and independent electricians and additional resource to manage the increasing number of overseas enquiries that the Group is receiving. The Directors also believe that the strengthening of the cash position and balance sheet of the Company will be positively viewed by the parties with which it is seeking to enter into commercial arrangements.

Details of the Placing

The Company has entered into a conditional placing agreement with Ambrian, under which Ambrian has agreed to use its reasonable endeavours to procure placees for up to 100,000,000 new Ordinary Shares of 0.25p each ("Placing Shares") at a price of 2.0p per share ("Placing Price"). The Placing Price represents a discount of 23.8 per cent. to the official closing market price of 2.63p of an existing Ordinary Share on 5 October 2010, being the latest practicable date prior to the release of this announcement. Assuming the maximum number of Placing Shares are issued pursuant to the Placing, such shares will represent 12.47 per cent. of the Company's enlarged issued share capital and following the Placing, the Company will have a total of 802,210,361 Ordinary Shares in issue.

The Placing Shares are being offered to existing and new institutional and other investors subject to the terms and conditions set out in the placing letters which have been sent out by Ambrian to placees. The Placing is not being underwritten.

General Meeting

A circular containing a notice of a General Meeting of the Company, convened for 9.00am on 25 October 2010 at Castlefield House, Liverpool Road, Castlefield, Manchester M3 4SB, has today been posted to shareholders of the Company outlining the terms of the Placing and seeking authority from shareholders to exclude statutory pre-emption rights for shareholders. This will allow the Directors to allot the Placing Shares in connection with the Placing ("the Resolution").

The Directors unanimously recommend that shareholders vote in favour of the Resolution to be proposed at the GM as they intend to do so in respect of the 18,858,420 ordinary shares beneficially held by them, representing approximately 2.7 per cent. of the entire issued share capital of the Company.

In addition irrevocable undertakings to vote in favour of the Resolution have been given by Energetix Group PLC in respect of 343,855,008 ordinary shares and Energetix (Nominees) Limited in respect of the 12,489,498 ordinary shares beneficially held by them, together representing 50.7 per cent. of the entire issued share capital of the Company.

Accordingly, the Company is in receipt of irrevocable undertakings to vote in favour of the Resolution in respect of 375,202,926 ordinary shares, representing approximately 53.4 per cent. of the existing ordinary share capital of the Company.

A copy of the circular will also be available from the Company's website at www.vphase.co.uk

Settlement and dealings

Application will be made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will occur, and dealings in the Placing Shares will begin, at 8.00 am on 26 October 2010. The Placing Shares will, when issued, rank pari passu in all respects with the existing Ordinary Shares in issue, including the right to receive any dividends and other distributions declared following Admission.

Comment

Commenting on the placing, Rick Smith, Chief Executive Officer said: "The Board is delighted to have secured this funding, and looks forward to working alongside our existing and new shareholders to drive the business forward. This is an exciting stage of VPhase's development, as we continue to accelerate commercial development of the product in the UK, and then expanding into other geographies."

VPhase plc provides a product that reduces the energy consumption of many domestic electrical appliances.

The Company has developed a Voltage Optimisation product designed to be attached to the consumer unit (fuse box) in order to control the incoming voltage for selected circuits to a target set point of 220 volts. This is slightly higher than the minimum design point for electrical items in Europe, thereby ensuring that electrical appliances in the home operate closer to the voltage condition for which they were designed.

Independently verified tests by VPhase have demonstrated that the product can typically save around 10% of the electricity across a range of domestic products including fridges, freezers, central heating pumps, televisions and other items, even 'energy-saving' light bulbs. This should equate to savings for the typical homeowner of between £40 and £135 per annum.

In addition, there is evidence that the life of electrical appliances can be extended by the use of this product; light bulbs, in particular, have demonstrated at least two times longer life when on a circuit managed by the voltage optimisation product as compared to those without the product.

www.vphase.co.uk

This information is provided by RNS

The company news service from the London Stock Exchange

END

LISMABRTMBTMBLM

*All intraday prices are subject to a delay of fifteen (15) minutes.

FE Investegate takes no responsibility for the accuracy of the information within
this site.

The announcements are supplied by the denoted source. Queries about the content
of an announcement should be directed to the source. FE Investegate reserves the
right to publish a filtered set of announcements. NAV, EMM/EPT, Rule 8 and FRN Variable
Rate Fix announcements are filtered from this site.

To continue using FE Investegate, please confirm that you are a private investor.

I am a private investor *I am not a private investor

*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
1. Obtains access to the information in a personal capacity;
2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
5. Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
6. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.

To continue to use FE Investegate, please confirm you are a private investor

This website is only for private investors. By using this site, you agree to use the content for private use only.

Please confirm that you are a private investor using the buttons below.